Munjal Auto Industries Ltd

₹ 100 -1.78%

23 Jul 4:01 p.m.

munjalauto.com BSE: 520059 NSE: MUNJALAU

About

Incorporated in 1985, Munjal Auto Industries Ltd manufactures and sells auto components and designs, develops, tests, and produces various composite molds and products for different industries.^[1]

Key Points

Business Overview:^[1]
MAIL, part of the Hero Group, is predominantly owned by the Satyanand Munjal family with a 75% equity stake. The company manufactures sheet metal, composites, molds, components, and assemblies for various industries, including automotive, renewable energy, aerospace, defense, space, railways, and other engineering sectors. Key automotive products include exhaust mufflers, fuel tanks, rims, and BIW parts for two and four-wheelers. In the renewable sector, MAIL produces windmill blades, molds, and other wind energy components.

Website BSE NSE

Market Cap ₹ 1,001 Cr.
Current Price ₹ 100
High / Low ₹ 115 / 67.2
Stock P/E 28.3
Book Value ₹ 44.8
Dividend Yield 1.00 %
ROCE 11.1 %
ROE 8.19 %
Face Value ₹ 2.00

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Pros

Cons

The company has delivered a poor sales growth of 1.58% over past five years.
Company has a low return on equity of 9.71% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments

Part of BSE Consumer Discretionary

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Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	482.83	508.58	544.68	422.17	406.33	509.92	522.49	522.09	511.88	491.02	584.09	605.81	614.24
	461.36	484.03	508.62	396.12	372.68	480.15	491.80	499.79	477.27	462.65	557.69	563.79	595.57
Operating Profit	21.47	24.55	36.06	26.05	33.65	29.77	30.69	22.30	34.61	28.37	26.40	42.02	18.67
OPM %	4.45%	4.83%	6.62%	6.17%	8.28%	5.84%	5.87%	4.27%	6.76%	5.78%	4.52%	6.94%	3.04%
	3.35	10.32	7.15	-28.30	34.98	1.01	12.18	4.64	1.27	23.68	11.33	4.91	11.69
Interest	7.46	6.96	7.12	6.99	6.44	6.79	7.63	8.48	8.08	8.52	9.71	10.38	9.97
Depreciation	13.78	13.62	13.92	14.16	14.02	13.75	14.62	15.49	15.24	15.11	15.41	16.96	17.95
Profit before tax	3.58	14.29	22.17	-23.40	48.17	10.24	20.62	2.97	12.56	28.42	12.61	19.59	2.44
Tax %	35.75%	28.13%	32.97%	-0.26%	24.64%	-2.25%	1.50%	167.00%	18.15%	32.05%	-6.98%	25.27%	151.64%
	2.29	10.28	14.87	-23.35	36.30	10.47	20.30	-1.99	10.28	19.31	13.49	14.64	-1.26
EPS in Rs	0.36	0.99	1.38	-1.22	2.72	1.17	1.86	-0.22	0.83	1.58	1.12	1.35	-0.03
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,214	1,236	2,123	1,916	1,984	1,882	2,066	2,295
	1,143	1,190	2,040	1,833	1,894	1,761	1,949	2,167
Operating Profit	71	45	83	83	90	120	117	128
OPM %	6%	4%	4%	4%	5%	6%	6%	6%
	3	5	5	5	60	24	19	39
Interest	4	12	16	12	27	28	31	39
Depreciation	20	32	39	36	53	56	59	65
Profit before tax	49	7	33	41	70	61	46	63
Tax %	23%	44%	38%	27%	27%	38%	15%	27%
	37	4	20	30	52	38	39	46
EPS in Rs	3.60	0.41	2.06	2.68	5.61	3.85	3.64	4.02
Dividend Payout %	28%	0%	0%	37%	36%	52%	27%	0%

Compounded Sales Growth
10 Years:	%
5 Years:	2%
3 Years:	5%
TTM:	11%

Compounded Profit Growth
10 Years:	%
5 Years:	11%
3 Years:	11%
TTM:	-15%

Stock Price CAGR
10 Years:	9%
5 Years:	9%
3 Years:	21%
1 Year:	32%

Return on Equity
10 Years:	%
5 Years:	9%
3 Years:	10%
Last Year:	8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	20	20	20	20	20	20	20	20
Reserves	277	269	291	317	364	381	396	428
	47	123	147	116	282	276	350	423
	220	383	405	508	602	527	454	584
Total Liabilities	564	796	862	961	1,268	1,205	1,219	1,455
	200	343	303	263	416	399	440	317
CWIP	25	2	1	4	8	9	18	157
Investments	7	21	26	118	104	171	129	116
	332	430	531	576	740	626	633	865
Total Assets	564	796	862	961	1,268	1,205	1,219	1,455

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	26	87	59	137	33	127	25	45
	-15	-139	-14	-99	37	-77	-9	-57
	-5	47	-45	-50	-65	-53	-15	18
Net Cash Flow	6	-5	-0	-13	6	-3	1	5
Free Cash Flow	-40	-41	50	128	52	88	-39	-28
CFO/OP	53%	205%	79%	174%	58%	118%	24%	46%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	49	79	66	74	80	54	53	68
Inventory Days	30	36	17	26	50	58	58	62
Days Payable	60	110	53	58	76	68	67	80
Cash Conversion Cycle	18	6	30	41	55	44	44	50
Working Capital Days	7	4	12	5	9	0	7	27
ROCE %		5%	11%	11%	9%	14%	12%	11%

Insights

In beta

Mar 2016

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Mar 2020

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Mar 2023

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Mar 2025

MAIL Manufacturing Plants/Units
number ・Standalone data

x	x	x	x	x	x	x	x	x	x
	xx.xx	xx.xx	xx.xx	xx.xx		xx.xx	xx.xx	xx.xx	xx.xx
				x	x	x	x	x	x
				xx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx	xxx.xx
				xx.xx		xx.xx	xx.xx	xx.xx	xx.xx
						xxx	xxx	x,xxx	xxx
								xx.xx	xx.xx
								xx	xx

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Revenue Share from HMCL (Customer Concentration)
% ・Standalone data

Indutch (Subsidiary) Manufacturing Plants/Units
number

Indutch (Subsidiary) Revenue from Operations
Rs. crore

Muffler Installed Capacity
lakh units per annum ・Standalone data

Indutch (Subsidiary) Order Book
Rs. crore

Enercon Share of Indutch Revenue (Customer Concentration)
%

HMCL Market Share in Domestic 2W Industry
% ・Standalone data

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

18 Recently

	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%
	0.00%	0.02%	0.00%	0.01%	0.03%	0.04%	0.07%	0.11%	0.01%	0.03%	0.00%	0.06%
	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
	25.16%	25.16%	25.16%	25.15%	25.13%	25.13%	25.11%	25.06%	25.16%	25.13%	25.17%	25.10%
No. of Shareholders	38,211	40,130	44,286	45,332	50,878	48,939	49,044	48,072	50,063	48,805	47,111	46,301

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Jun 2026
	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%	74.81%
	0.00%	0.03%	0.00%	0.00%	0.00%	0.07%	0.00%	0.00%	0.07%	0.00%	0.06%
	0.13%	0.12%	0.15%	0.16%	0.07%	0.03%	0.03%	0.03%	0.03%	0.03%	0.03%
	25.06%	25.04%	25.05%	25.03%	25.12%	25.10%	25.17%	25.16%	25.11%	25.17%	25.10%
No. of Shareholders	19,970	26,696	29,415	32,858	39,770	40,221	39,349	44,286	49,044	47,111	46,301

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Munjal Auto Industries Ltd

Munjal Auto Industries Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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